The grain market comes off the lows but can it close higher pre-report, with headwinds like the Brazil crop and slow demand? How much wx premium does the cattle market need to add? What is the outlook for outside and equity markets? Darin Newsom, Barchart, has answers.
Grains Off Lows but Can it Rally with Big Supplies, Weak Demand and What’s the Outlook for Outside Markets?
Grains off lows but can it rally pre-report, with headwinds like Brazil wx & slow demand? How much wx premium does the cattle market need? What’s the outlook for outside markets? Darin Newsom, Barchart, has answers.
January 10, 2024 11:54 AM
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Alan Brugler with A&N Economics says the bottom line is with that weakness in real, you’re going to see a little more competition out of Brazil on soybean exports when you’re looking at them in dollar terms.
Joe Kooima of Kooima Kooima Varilek says the reaction was a bit muted considering the placements were well below estimates. However, he says some of it was already priced in.
Dan Basse, president of Ag Resource Company, says he thinks the soybean market put in a bottom earlier in the week.
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